Reply #42: Your borrowing money from the chinese - [View All]

[whosinpower]

To pay for tax cuts.

If you blindly think for one moment, that the republicans will be silent on the deficit issue come 2011 - you are beyond hope.

America has two wars to pay for. Like it or not - that bill WILL come due. Kicking it down the road to your children and grandchildren is grossly irresponsible.

While it is nice to myopically think - what is in it for me....Moody's is already warning that the tax cuts may lead to America's rating to go down. The US dollar is already weakening, given the recent quantitative easing. American real estate is continueing to show signs of collapse.

What am I saying....I am saying that tax cuts will not fix the problems facing the American economy, and main street. It will not create jobs. It will not stabilize the real estate market. And the only demand that it might increase will provide jobs overseas - not here. America needs to increase it's GDP; it needs to decrease its trade deficit. It needs to produce and export more products. It needs to put the unemployed back on the line working and being productive and paying taxes.

When you look at all those wonderful tax refunds - and realize you may spend them on a....flat screen tv, that is manufactured in China and shipped over here, your refund money stimulates whose job exactly? The multinationals who have their manufacturing plants across the pond, the container shipping companies, and the poor sales rep who probably works on commission. The vast majority of that money goes straight to the coffers of the multinationals who profit more from cheap labour. So, if they see demand going up - they will just increase production there. There is a REASON why there is growing disparity between the wealthy and middle and lower classes. Tax cuts just speed it along its way, and the American economy is left struggling with high unemployment, low paying service sector jobs and a very few elites sitting on Wall Street.